FINANCIAL NEWS

China signs USD20b deal with Egypt for new capital project

04 Oct 2016

(MENAFN) China Fortune Land Development signed a deal in order to develop and manage 14.000 acres of Egypt”s new administrative capital at USD20bn cost.

Additionally, the development will include homes and offices and all related infrastructure, which will take place in the second phase of building of the new capital east of Cairo.

Moreover, amid the development and infrastructure investments was an agreement to build the new capital”s first phase, which will cost almost USD45bn.

The new capital will be the size of Singapore, which will have an airport larger than London”s Heathrow, a building taller than Paris”s Eiffel Tower.

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